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echo: aust_biz
to: Paul Edwards
from: Paul Edwards
date: 1995-06-14 19:13:28
subject: Heat Exchangers

PE> one was just as inaccurate, etc etc.  E.g. Pacific Dunlop was
PE> being traded at $3.50, then $2.67, then $3.50, then $2.80, over
PE> just a few months.  You can either say that the $3.50 didn't
PE> fully factor in the losses that the pacemaker is going to produce,
PE> or you can say that the $2.67 has overreacted to the pacemaker
PE> problems and didn't factor in the fact that in the longer term,

Not to mention that the price just 15 months ago was about $5.92.
Unless long-term profit potential is measured in months or days,
the market is always totally wild IMO.  Who's doing well at the
moment?  Comalco?  All that means is that the market hasn't 
factored in the long-term potential of disaster (aluminium prices
going through the floor).  BFN.  Paul.
@EOT:

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